Roth Capital Raises Credo Technology Group (NASDAQ:CRDO) Price Target to $160.00

Credo Technology Group (NASDAQ:CRDO) had its price target boosted by equities research analysts at Roth Capital from $95.00 to $160.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Capital’s price objective suggests a potential upside of 13.62% from the company’s previous close.

Several other analysts have also commented on the stock. Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 24th. Cowen reissued a “buy” rating on shares of Credo Technology Group in a research note on Tuesday, June 3rd. Needham & Company LLC increased their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho increased their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Noble Financial raised shares of Credo Technology Group to a “strong-buy” rating in a research note on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $126.27.

Credo Technology Group Trading Up 5.1%

Shares of NASDAQ:CRDO opened at $140.82 on Thursday. Credo Technology Group has a twelve month low of $24.08 and a twelve month high of $142.57. The firm has a market cap of $24.36 billion, a P/E ratio of 210.18, a P/E/G ratio of 2.40 and a beta of 2.59. The company has a 50 day moving average of $109.39 and a 200-day moving average of $73.87.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 20.24%. The business had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period in the prior year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts forecast that Credo Technology Group will post 0.13 EPS for the current year.

Insider Activity

In other Credo Technology Group news, CFO Daniel W. Fleming sold 3,790 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $97.29, for a total value of $368,729.10. Following the completion of the sale, the chief financial officer owned 582,428 shares in the company, valued at $56,664,420.12. This represents a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pantas Sutardja sold 1,875 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $107.00, for a total transaction of $200,625.00. Following the completion of the sale, the director owned 5,898,652 shares of the company’s stock, valued at approximately $631,155,764. The trade was a 0.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,654 shares of company stock worth $101,794,933 in the last quarter. Insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRDO. JPMorgan Chase & Co. lifted its position in Credo Technology Group by 36.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock worth $602,662,000 after buying an additional 1,739,844 shares in the last quarter. Nuveen LLC purchased a new stake in Credo Technology Group in the 1st quarter worth approximately $52,636,000. Alliancebernstein L.P. lifted its position in Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after buying an additional 1,218,504 shares in the last quarter. Polar Capital Holdings Plc lifted its position in Credo Technology Group by 382.1% in the 4th quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock worth $97,527,000 after buying an additional 1,150,084 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in Credo Technology Group in the 2nd quarter worth approximately $82,479,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.